Gee, what else is new?
But first, the scoreboard:
S&P 500: +3.22
And now, the top stories:
- Really, it was pretty quiet on the news front. If you turned on the TV at any point, it was probably Egypt, but the market really didn’t care at all.
- Markets generally did their bull thing around the world. Even India had another huge day. Europe was down a bit, but there was nothing too remarkable. ECB chief Jean-Claude Trichet took a fairly dovish tone during his press conference, and the euro rally ran into a brick wall.
- There was some good US economic data. Initial jobless claims fell nicely, and slightly beat expectations. ISM services easily surpassed expectations.
- And then beyond that, the only big “news” was a Bernanke speech in which he didn’t really say anything new, though gold seemed to take a pretty big spike once his dovish-sounding speech hit the market. Also, it sounded to us like he started telegraphing QE3 pretty clearly >
- And that was it! Everyone’s getting excited about tomorrow’s big Non-Farm Payrolls report.
- For some big-picture stuff, Goldman put out a new, negative note on housing >